More jawboning would be `meaningless,’ JPMorgan’s Sasaki says
BOJ’s next policy meeting is scheduled for April 27-28
Foreign-exchange traders are challenging Japanese policy makers’ tolerance for a stronger yen as the currency climbed to a level unseen for 17 months.
The yen briefly pushed through 110 per dollar on Tuesday to the highest since Bank of Japan Governor Haruhiko Kuroda boosted monetary easing in October 2014, and a level that some strategists see as heightening the risk of intervention. Kuroda has said he’ll keep monitoring the currency and reiterated the potential for cutting interest rates further below zero. The next scheduled policy meeting is April 27-28.
“Dollar-yen’s price action suggests traders don’t see much threat of anything to stop the yen rally,” said Sean Callow, a senior foreign-exchange strategist at Westpac Banking Corp. in Sydney. “Bold easing on April 28 is the most plausible circuit breaker for the dollar-yen rout, but it’s not clear we will see that.” Read more